StockNews.com Initiates Coverage on Atlantic American (NASDAQ:AAME)

Equities research analysts at StockNews.com began coverage on shares of Atlantic American (NASDAQ:AAME) in a research note issued on Saturday. The firm set a “hold” rating on the financial services provider’s stock.

Atlantic American Stock Down 0.8 %

Shares of NASDAQ AAME opened at $1.48 on Friday. Atlantic American has a 12 month low of $1.26 and a 12 month high of $3.00. The business’s 50 day moving average is $1.59 and its two-hundred day moving average is $1.61. The company has a market cap of $30.28 million, a P/E ratio of -4.24 and a beta of 0.47.

Institutional Trading of Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar boosted its holdings in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the quarter. Atlantic American accounts for about 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th biggest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. 5.48% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic American Company Profile

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. It operates through American Southern and Bankers Fidelity segments. The company offers property and casualty insurance products, including commercial automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; general liability; and inland marine insurance products.